Have you heard of Pearl Jam? They are an amazing group and very committed to their music and their fans. They been around for decades, and their success contains valuable business lessons for us. Let's focus on some of these lessons in this article.
Fans of Pearl Jam for years have been bootlegging their shows because of the unique concert experience Pearl Jam creates. But, in 2001 Pearl Jam released 72 live albums to their fans right off their website and in record stores! The genius was in the marketing plan to sell something the loyal fans wanted that set Pearl Jam up to be the first and only band to have 5 albums on the BillBoard 100 at the same time, and they turned a profit on all 72 albums.
The strategy lesson for us is the fact that all they did was repackage the work that they had already done! They did not have to create new content. As a business owner, you can do the same with your content. It is almost always cheaper to sell to your existing fans rather than creating new ones.
But, the big win to top off the income stream is when some of the core audience is so delighted to be taken care of that they go and indoctrinate their friends. And thus the universe grows. I can't count how many people I've turned onto Pearl Jam because of my stories of the "coolest band ever that takes care of its fans."
The point is that this lesson shows how powerful your fan base is. It doesn't matter how small your list is either. You really do not have to have a huge list in order to see success. Basically, you need a core group of people who like what you are offering. They think it is a good fit for them and their friends.
Make sure that you have the contact information of at least 20% of your most loyal fans. Find a way to get this information if you do not already have it. Then begin to strategize to come up with ways to give them more of what they really want.
Fans of Pearl Jam for years have been bootlegging their shows because of the unique concert experience Pearl Jam creates. But, in 2001 Pearl Jam released 72 live albums to their fans right off their website and in record stores! The genius was in the marketing plan to sell something the loyal fans wanted that set Pearl Jam up to be the first and only band to have 5 albums on the BillBoard 100 at the same time, and they turned a profit on all 72 albums.
The strategy lesson for us is the fact that all they did was repackage the work that they had already done! They did not have to create new content. As a business owner, you can do the same with your content. It is almost always cheaper to sell to your existing fans rather than creating new ones.
But, the big win to top off the income stream is when some of the core audience is so delighted to be taken care of that they go and indoctrinate their friends. And thus the universe grows. I can't count how many people I've turned onto Pearl Jam because of my stories of the "coolest band ever that takes care of its fans."
The point is that this lesson shows how powerful your fan base is. It doesn't matter how small your list is either. You really do not have to have a huge list in order to see success. Basically, you need a core group of people who like what you are offering. They think it is a good fit for them and their friends.
Make sure that you have the contact information of at least 20% of your most loyal fans. Find a way to get this information if you do not already have it. Then begin to strategize to come up with ways to give them more of what they really want.
About the Author:
About the author: Vito La Fata is a business entrepreneur and coach who can teach you how to be a personal trainer. Find fitness business coaching and get more information by visiting his website.
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Thank You for your interest !